charlesmb2496 charlesmb2496

19-05-2022
Business

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What are true statements about the history of the fractional banking system?

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Gothboy06 Gothboy06

19-05-2022

Answer:

----->Traders would deposit their gold with goldsmiths.

--->Goldsmiths issued paper receipts in excess of the amount of gold held.

--->Goldsmiths put the paper receipts into circulation by making loans.

Explanation:

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